SOURCE: GreenMan Technologies Inc.

GreenMan Technologies Inc.

July 27, 2011 09:00 ET

GreenMan Technologies' Subsidiary Commissions Dual Fuel Technology to Power Cimarex Energy Co. Oil & Gas Drilling Rig Site Using Pipeline Gas

LYNNFIELD, MA--(Marketwire - Jul 27, 2011) - GreenMan Technologies, Inc. (OTCQB: GMTI) (PINKSHEETS: GMTI) announced that its American Power Group, Inc. subsidiary ("APG") has converted and commissioned three Caterpillar 3512 diesel powered generators to run on a combination of pipeline natural gas and diesel fuel at a Cimarex Energy Co. ("Cimarex") Mid-Continent drilling site. APG utilized its new third generation S3000 Series Dual Fuel System which relies on its read-only CAN-bus Turbocharged Natural Gas™ technology to seamlessly meter and control the dual fuel within all original OEM diesel engine performance parameters. During commissioning the generators achieved an average 50% displacement in diesel fuel, creating a significant fuel cost reduction as well as decreased emissions. The order was booked and managed through Cactus Drilling Company LLC ("Cactus").

APG's dual fuel system converts diesel engines and diesel generators to function more efficiently and at a lower operating cost (average net fuel cost savings of 20% - 35%) by seamlessly displacing up to 40%-60% of the normal diesel fuel consumption with either CNG, LNG, pipeline gas, well-head gas, or other qualified bio-methane gases. APG's system is non-invasive to the OEM engine and operates within all OEM performance controls with the flexibility to return to 100% diesel operation at any time. APG's dual fuel conversion and emissions reduction systems can help users achieve their sustainability goals through lower carbon monoxide, nitrogen oxide, and particulate matter emissions. In addition, the introduction of natural gas through APG's dual fuel system does not impact diesel engine power or torque and will assist in extending the engine's oil life as natural gas is a cleaner burning fuel compared to diesel.

Lyle Jensen, GreenMan's President and Chief Executive Officer, stated, "We are pleased to have worked with the Cimarex and Cactus field operations personnel on this initial conversion which was completed while the drilling rig was in full operation and was completed with minimal on-site work. The results have exceeded GreenMan's initial expectations and we look forward to additional opportunities to demonstrate how dramatically our dual fuel solution can positively impact the bottom line for oil and gas drillers."

About GreenMan Technologies

GreenMan's alternative energy subsidiary, American Power Group, Inc., provides a cost-effective patented dual fuel conversion technology for diesel engines and diesel generators. American Power Group's dual fuel technology is a unique non-invasive energy enhancement system that converts existing diesel engines into more efficient and environmentally friendly engines that have the flexibility to run on: (1) diesel fuel and compressed natural gas; (2) diesel fuel and liquid natural gas; (3) diesel fuel and well-head gas; and (4) diesel fuel and bio-methane, with the flexibility to return to 100% diesel fuel operation at any time. The proprietary technology seamlessly displaces 40% to 60% of the normal diesel fuel consumption and the energized fuel balance is maintained with a proprietary electronic controller system ensuring the engines operate at engine manufacturers' specified temperatures and pressures. Installation on a wide variety of engine models and end-market applications requires no engine modifications unlike the more expensive invasive alternative fuel systems in the market. See additional information at: www.greenman.biz. and www.americanpowergroupinc.com.

Caution Regarding Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risks and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the risk that we may not be able to complete the transactions described in this release, the fact that we have sold the tire recycling operations which have historically generated substantially all our revenue; the risk that we may not be able to increase the revenue or improve the operating results of our American Power Group division; the risk that we may not be able to return to sustained profitability; the risk that we may not be able to secure additional funding necessary to grow our business, on acceptable terms or at all; the risk that if we have to sell securities in order to obtain financing, the rights of our current stockholders may be adversely affected; the risk that we may not be able to increase the demand for our products and services; the risk that we may not be able to adequately protect our intellectual property; and risks of possible adverse effects of economic, governmental, seasonal and/or other factors outside the control of the Company, which are detailed from time to time in the Company's SEC reports, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2010. The Company disclaims any intent or obligation to update these "forward-looking" statements.

Contact Information

  • Contacts:
    Chuck Coppa
    CFO
    Lyle Jensen
    CEO
    GreenMan Technologies, Inc.
    781-224-2411

    Investor Relations Contacts:
    John Nesbett or Jennifer Belodeau
    Institutional Marketing Services (IMS)
    203-972-9200